One important detail is that my brother currently lives with us, and we are open to having him stay with us if we do make a purchase as a renter to help cover our mortgage.I see our main options as the following:1) Buying an SFDU to live in, and "house hack" with my brother continuing to live with us and pay rent2) House hacking with MFDU.

If you want more information, p.m. me and I can give you a lot more details.

Define roles, financial contributions, profit-sharing, and responsibilities in a detailed agreement.

Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?

Details on the duplex:Price: $385kBuilt: 2012Size: 2674 sq ft (1333 each side). 2 story, 3B/2.5B each side w/ 1 car garage & driveway for both, fenced backyard both sides.Interest: 5.49%PITI: $2,698Current Rent: $1,350 but could be brought up to ~$1,600, maybe $1,700Yearly Property Tax: $8,340 (I don't pay any on my side while I live there so $4,170)Upgrades: Vinyl floor in kitchen of both units, new AC (central HVAC) on vacant unit, roof done 2016. 

This is a detailed topic.

While this isn't a hard and fast rule, more often then not, these are the guys that can't manage their schedules well, and will be gung-ho on your job for a couple weeks, then be flaking out as they picked up too much work and are trying to keep too many homeowners happy.And lastly, the more detail you have the better the bid will be with few change orders.  

I don't have pro, so I'm not sure exactly how much detail it will show me. 

From there you assess if month to month cash flow deficit is okay, that's really such a small detail of it.  

A fresh coat of paint in a modern neutral color and updated lighting can really elevate those spaces.Adding a deck or patio can be a great way to increase usable living space and boost value.